RE:RE:RE:RE:RE:Private PlacementWell fellow Novo followers, you're probably wondering why I keep bring up the illegal water issue with Tx. Well, and again, maybe you don't give a sh!t. That's ok, I understand, it's not an important issue. However, one of the reasons the old MOY went broke was a lack of water. Remember MOY announced the problem and were drilling new wells just before it went belly up? Now Tx says that MOY drilled in places they shouldn't have because they were desperate..
Now that I've set that up lets look at the negotiation results. Novo payed over $100 million for assest that nobody else wanted. Now over on CEO.ca, supposedly Hennigh responded to an email from Wiseguy1 that Novo was worried that IMC was going to restart the plant on their own and was therefore willing to pay, and pay, and pay.
The problem with that is there (probably, as I can't prove it) is still not enough water on MOY's side of the fault to surpress dust on the roads, in the mines, and satisty a sulfide processing plant which requires a huge amount of water. Now if Tx is correct that MOY drilled illegal wells, maybe on Novo property, I would think Novo would bring that up in negoatiations and if MOY threatend to go it alone, Novo would tell them to go ahead but shut down the illegal wells. Thus leaving MOY between and rock and a hard place. So did MOY drill enough legal wells to satisfy the water requirements or was Hennigh so desparate to get into production that he paid about $60 million too much? Who gives a sh!t.